Purpose – The purpose of this study is to empirically test the levels of trust supply chain managers exhibit regarding online auctions. The study seeks to test the hypotheses that supply chain managers with higher levels of trust in online auctions would exhibit more familiarity with online auctions, more positive relationships with suppliers, stronger focus on cost management, a stronger focus...

auctions and takeovers. Under Delaware law (the predominant corporate law in the US), when a potential acquirer makes a serious bid for a target, the target's board of directors is required to act as would " auctioneers charged with getting the best price for the stockholders at a sale of the company. " (Revlon v. MacAndrews & Forbes, 173). The target's board may not use defensive tactics that ...

Multi-unit auctions are being employed by public agencies to allocate resources and to purchase services. These auctions resolve the lumpy bid problem inherent in single-unit auctions by allowing bidders to submit a supply or demand schedule. However, the choice of pricing formats for multi-unit auctions is controversial. Neither economic theory nor laboratory experiments depict a complete pict...

Do consumers prefer auctions that allow them to place more precise bids to auctions that accept less precise bids? Can consumers accurately estimate their need for price-elicitation precision? This research addresses these questions by applying the notion of compatibility to the relationship between consumers’ bidding price uncertainty and the precision implied by the price-elicitation task. Da...

Automated construction of revenue maximizing auctions poses many challenges which are not addressed by classic auction theory. In this paper we describe a system that facilitates generic automatic construction of near optimal auctions for realistic scenarios. In order to test our system we execute it on several benchmark distributions. On all of these benchmarks, our system yields revenue highe...

Electronic auctions have become popular. Recently, multicast technology is changing the Internet environment for e-commerce, and will make available more forms of auctions than were ever practical in the past. This study proposes an online real-time multi-auctions model. The prerequisite of the implementation of this new auction model is the integration of the multicast technology and software ...

P often observe others’ decisions before deciding themselves. Using eBay data for DVD auctions we explore the consequences of neglecting nonsalient information when making such inferences. We show that bidders herd into auctions with more existing bids, even if these are a signal of no-longer-available lower starting prices rather than of higher quality. Bidders bidding a given dollar amount ar...

In this paper, we study the problem of maximizing welfare in combinatorial auctions with k(> 1)duplicates of each item, where k is a fixed constant (i.e. k is not the part of the input) and bidders are submodular or subadditive. We exhibit some upper and lower approximation bounds for k-duplicates combinatorial auctions. First, we show that it is NP-hard to approximate the maximum welfare for k...

We show that all-pay auctions dominate first-price sealed-bid auctions when bidders face budget constraints. This ranking is explained by the fact that budget constraints bind less frequently in the all-pay auctions, which leads to more aggressive bidding in that format.